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5 myths about selling your house at property auctions

November 12, 2018Categories: SellingTags: selling by auction

At Your Move, we offer our customers many different options when it comes to selling their home. One of these options is selling by the modern method of auction. The term ‘auction’ often makes sellers feel nervous, perhaps because there are many ‘myths’ about selling properties in this way. Well, we’re here to drive out these myths, and give advice about how this method could sell your house quickly and for a great price.

 

Myth 1: ‘I’ll need to find time to go to the auction’

It is a common misconception that all auction properties have to be sold at a live auction in a particular location. With our modern method, this isn’t the case. The auction takes place online so you can watch bids go up from the comfort of your own home. However, there is also the option for the auction to be a live event, should this be necessary.

 

Myth 2: ‘Only old and tired properties are sold at auctions’

Again, not true! So far this year, we have sold over 1,300 properties at auction and these were homes of all sorts of shapes, sizes, styles and standards.

In fact, here is a modern and nicely decorated home currently for sale by auction, just to prove that not all auction properties are huge renovation projects.

Modern property being sold at auction

Find out more about this property in Lincoln.

 

Myth 3: ‘I won’t get as much money for my home’

This is also a common fear of sellers when it comes to selling houses at auction: that it will mean the winning bid could be a much lower selling price than they wanted. Let us set the record straight – through the modern method, all properties are sold with an undisclosed minimum reserve price set in agreement with the seller. This means that your home will never sell for less than a price that you are happy with.  

 

Myth 4: ‘My home won’t sell because no buyers will look for a property at auction’

Often, people might believe that buyers aren’t aware of properties that are sold at auction because it just isn’t the common way of doing things.

However, at Your Move, we market our auction properties using exactly the same methods as when selling properties privately. This includes advertising homes on Rightmove & Zoopla, so your property is just as likely to spark the interest of buyers as any other home! Find out more about our marketing package.

 

Myth 5: ‘Selling by auction will be more stress and cost me more money’

There may also be a common belief that selling a house at auction can be more stressful, take longer and cost more money. This could be because people are misinformed about the process. Firstly, selling at auction means you’re more likely to sell your house quickly with fixed, realistic time frames and sale and completion within a swift 56 days!

Secondly, not only will selling a house at auction encourage competitive bidding and drive up the selling price of your home, you as the seller pay no estate agency fees and keep the full selling price! This means there is 0% commission fees when selling at auction. Find out more about how this works on our Auction page.

Just to prove our point, here is a beautiful property in Lincoln that sold in just 7 days and for £15K over the asking price!

Lincoln property sold for £15K above asking price

We hope we have helped settle any worries you have about selling your house at auction. Ultimately, selling by the modern method of auction can achieve maximum value for your home, give you additional security and allows fixed time frames for selling and moving. And don’t forget, you can enjoy selling for 0% commission fees and our local property experts can guide you through the whole process.

Want to know more about selling through the modern method?

Book a FREE valuation today!

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